Expedia Group said it is seeing “green shoots” in destinations starting to reopen and with people thinking more about summer vacations. 

Cancellations, while still at an elevated level, have stabilized.

“I’m pleased to say -- but I would not get overly excited about it -- that we’ve seen nice growth coming into May,” Expedia CEO Peter Kern said during the company’s Q1 earnings call.

Hit hard by the Covid-19 pandemic late in the quarter, Expedia’s revenue fell 15% to $2.6 billion and recorded a net loss of $1.3 billion.

Late March going into April was the trough for Expedia, as it was for many companies, Kern said. Now Expedia is on an upswing, though Kern did not say how big a bump it is.

Vrbo, the company’s alternative accommodations brand, is coming back faster than hotel bookings. Kern attributed that to city dwellers looking to get away with their families. He also believes Vrbo has an advantage over its competitors, as its emphasis is on whole-house bookings outside of cities as opposed to properties in cities or rooms available in an otherwise occupied house.

Wednesday’s call was Kern’s first as the company’s CEO after working with chairman Barry Diller since last year’s management shakeup.

“I’m really excited about the opportunities ahead of us,” Kern said. “I’m not crazy. I know this seems like an odd time to take on running a travel company, but the opportunities I saw as Barry and I dug into the business are just tremendous, and I think great things are ahead for us.”

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